Chip giant Micron is cutting production and investments


Micron Technology

The company was the first major chipmaker to sound the alarm earlier in the year about falling demand for PCs and smartphones due to inflation.

(Photo: AP)

san francisco The US semiconductor manufacturer Micron wants to reduce its range of memory chips and further cut its investment plan. Micron announced on Wednesday that DRAM and NAND production will be reduced by around 20 percent compared to the fourth quarter that ended at the beginning of September.

The semiconductor company is currently struggling to reduce excess inventories due to a slump in demand. Many consumers and companies are putting off investments in new smartphones or computers because of global inflation.

“In order to significantly improve overall inventory, DRAM bit supply must shrink and NAND bit supply growth must be significantly below previous estimates,” Micron said. For the year 2023, the group expects a drop in sales for DRAM chips and a slight increase in the single-digit percentage range for NAND chips.

Micron was the first major chipmaker to sound the alarm earlier this year about falling demand for PCs and smartphones due to inflation.

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